Shanghai Container Freight Index rises

The Shanghai Container Freight Index was set at 1,176.12 on Friday, Jan. 3, 62.39 points higher than a week earlier.
The index is a weighted average of estimated spot container freight rates on 15 routes out of Shanghai to different destinations worldwide and prepared by a panel for the Shanghai Shipping Exchange.Lloyd's List reports that freight rates on services from Asia to Europe began the year "at their highest level for more than 17 months as vessel space tightens in the run up to the Chinese new year and as rate increases come into effect."